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	<title>The Harvard Law School Forum on Corporate Governance</title>
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	<title>An Early Look at the 2022 Proxy Season &#8211; The Harvard Law School Forum on Corporate Governance</title>
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		<title>An Early Look at the 2022 Proxy Season</title>
		<link>https://corpgov.law.harvard.edu/2022/06/07/an-early-look-at-the-2022-proxy-season/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=an-early-look-at-the-2022-proxy-season</link>
		<comments>https://corpgov.law.harvard.edu/2022/06/07/an-early-look-at-the-2022-proxy-season/#comments</comments>
		<pubDate>Tue, 07 Jun 2022 13:33:02 +0000</pubDate>
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				<category><![CDATA[Corporate Elections & Voting]]></category>
		<category><![CDATA[ESG]]></category>
		<category><![CDATA[Executive Compensation]]></category>
		<category><![CDATA[Institutional Investors]]></category>
		<category><![CDATA[Practitioner Publications]]></category>
		<category><![CDATA[Asset management]]></category>
		<category><![CDATA[Boards of Directors]]></category>
		<category><![CDATA[Proxy season]]></category>
		<category><![CDATA[Proxy voting]]></category>
		<category><![CDATA[Say on pay]]></category>
		<category><![CDATA[Shareholder proposals]]></category>
		<category><![CDATA[Shareholder voting]]></category>
		<category><![CDATA[Sustainability]]></category>

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		<description><![CDATA[Introduction An early examination of 2022 proxy season voting statistics yields a number of notable observations: We have seen several types of proposals that attracted majority support for the first-time this season, including shareholder proposals addressing racial equity and civil rights audits, sexual harassment concerns and gender pay equity. On the heels of a record-breaking [&#8230;]]]></description>
				<content:encoded><![CDATA[<hgroup><em>Posted by Hannah Orowitz, Rajeev Kumar, and Lee Anne Hagel, Georgeson LLC, on Tuesday, June 7, 2022 </em><div class='e_n' style='background:#F8F8F8;padding:10px;margin-top:5px;margin-bottom:10px;text-indent:2.5em;'><strong style='margin-left:-2.5em;'>Editor's Note: </strong> <p style="margin:0; display:inline;"><a class="external" href="https://www.georgeson.com/us/about-us/meet-our-team/hannah-orowitz" target="_blank" rel="nofollow noopener">Hannah Orowitz</a> is Head of ESG, Rajeev Kumar is Senior Managing Director, and Lee Anne Hagel is Director at Georgeson LLC. This post is based on a Georgeson memorandum by Ms. Orowitz, Mr. Kumar, Ms. Hagel, and Kilian Moote.</p>
<p>Related research from the Program on Corporate Governance includes <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3544978" data-slate-object="inline" data-key="64"><span data-slate-object="text" data-key="63">The Illusory Promise of Stakeholder Governance</span></a><span data-slate-object="text" data-key="65"> by Lucian A. Bebchuk and Roberto Tallarita (discussed on the Forum </span><a href="https://corpgov.law.harvard.edu/2020/03/02/the-illusory-promise-of-stakeholder-governance/" data-slate-object="inline" data-key="67"><span data-slate-object="text" data-key="66">here</span></a><span data-slate-object="text" data-key="68" data-slate-fragment="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">); <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3677155" data-slate-object="inline" data-key="89">For Whom Corporate Leaders Bargain</a> by Lucian A. Bebchuk, Kobi Kastiel, and Roberto Tallarita (discussed on the Forum <a href="https://corpgov.law.harvard.edu/2020/08/25/for-whom-corporate-leaders-bargain/" data-slate-object="inline" data-key="92">here</a>); <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3749654">Restoration: The Role Stakeholder Governance Must Play in Recreating a Fair and Sustainable American Economy: A Reply to Professor Rock</a> by Leo Strine (discussed on the Forum <a href="https://corpgov.law.harvard.edu/2021/01/07/restoration-the-role-stakeholder-governance-must-play-in-recreating-a-fair-and-sustainable-american-economy-a-reply-to-professor-rock/">here</a>); and <a href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4026803" data-slate-object="inline" data-key="114">Stakeholder Capitalism in the Time of COVID</a>, by Lucian Bebchuk, Kobi Kastiel, and Roberto Tallarita (discussed on the Forum <a href="https://corpgov.law.harvard.edu/2022/02/22/stakeholder-capitalism-in-the-time-of-covid/" data-slate-object="inline" data-key="117">here</a>).</span></p>
</div></hgroup><h2>Introduction</h2>
<p>An early examination of 2022 proxy season voting statistics yields a number of notable observations:</p>
<p><img loading="lazy" decoding="async" width="640" height="222" class="alignnone wp-image-146641 size-full" src="https://corpgov.law.harvard.edu/wp-content/uploads/2022/06/Pasted.png" srcset="https://corpgov.law.harvard.edu/wp-content/uploads/2022/06/Pasted.png 640w, https://corpgov.law.harvard.edu/wp-content/uploads/2022/06/Pasted-300x104.png 300w" sizes="(max-width: 640px) 100vw, 640px" /></p>
<p><img loading="lazy" decoding="async" width="652" height="139" class="alignnone wp-image-146642 size-full" src="https://corpgov.law.harvard.edu/wp-content/uploads/2022/06/Pasted-1.png" srcset="https://corpgov.law.harvard.edu/wp-content/uploads/2022/06/Pasted-1.png 652w, https://corpgov.law.harvard.edu/wp-content/uploads/2022/06/Pasted-1-300x64.png 300w" sizes="(max-width: 652px) 100vw, 652px" /></p>
<p><img loading="lazy" decoding="async" class="wp-image-146643 aligncenter" src="https://corpgov.law.harvard.edu/wp-content/uploads/2022/06/Pasted-2.png" width="323" height="312" srcset="https://corpgov.law.harvard.edu/wp-content/uploads/2022/06/Pasted-2.png 414w, https://corpgov.law.harvard.edu/wp-content/uploads/2022/06/Pasted-2-300x289.png 300w" sizes="(max-width: 323px) 100vw, 323px" /></p>
<p>We have seen several types of proposals that attracted majority support for the first-time this season, including shareholder proposals addressing racial equity and civil rights audits, sexual harassment concerns and gender pay equity.</p>
<p> <a href="https://corpgov.law.harvard.edu/2022/06/07/an-early-look-at-the-2022-proxy-season/#more-146632" class="more-link"><span aria-label="Continue reading An Early Look at the 2022 Proxy Season">(more&hellip;)</span></a></p>
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